28 May 2024

While house prices are beginning to fall, many aspiring first-time buyers will find that the price of buying a home is still out of reach but that doesn’t mean you have to give up on your dream of home ownership. Are you excited to own your own home but unable to buy on the open market? Shared Ownership is a great option for first-time buyers as it enables home purchasing at a much lower rate than buying a house outright.

You may know about the Shared Ownership scheme already, but how can it help you? Learn about the perks of Shared Ownership below:

How does Shared Ownership work?

Shared Ownership is an affordable home ownership scheme where you buy a smaller share of your home, while paying subsidised rent on the part owned by your housing association. You can buy a share as low as 25%, or as high as 75%. The rent that you pay will depend the size of the share you own - expect to pay around 3% of the share that you don’t own.

Perks of Shared Ownership:


The biggest advantage of using Shared Ownership is that it makes home ownership much more affordable. While you would need a sizeable deposit to buy a home on the market, Shared Ownership lets you buy a smaller share of your property, resulting in a more attainable deposit size. If you want your own home but are put off by the long process of saving a deposit, Shared Ownership could be the solution. 

Get access to high-quality apartments

While Shared Ownership can be more affordable, it doesn’t mean you need to settle for a lower-quality home. Instead, Shared Ownership gives first-time buyers the opportunity to live in some of the most stunning homes in London.

Our two bedroom show home apartment at Gadwall Quarter at Woodberry Down

Our two bedroom show home apartment at Gadwall Quarter at Woodberry Down

Our two bedroom show home apartment at Gadwall Quarter at Woodberry Down

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Most Shared Ownership homes are new build properties that come with the latest in fixtures and appliances, meaning you won’t have to schedule an appointment with the repairman any time soon. You’ll also be given a blank slate to design and decorate your home as you wish. If you prefer something more traditional, Shared Ownership also helps you buy resale properties. 

Live in some of the best parts of London

Shared Ownership doesn’t just give you access to the most beautiful homes in London - it also makes it possible to live in the best areas. Do you have your eye on a specific area in London, but find the property prices out of reach? Shared Ownership makes that a problem of the past.

Whether you want to immerse yourself in culture in the leafy borough of Croydon or dive into the foodie haven that is East London, Shared Ownership opens plenty of doors.


No matter your financial circumstances, Shared Ownership gives you a lot of flexibility to buy the home you want. When you apply for a home using the scheme, you get the option to buy the share size that is best for you. You could start with as little as a 10% share, or even a larger share of 50% if you have enough saved up. As soon as you feel ready, you’ll then get the option to increase your stake in your home. 

A bridge to future home ownership

You might be buying your home on a shared basis, but part ownership doesn’t need to last forever. Shared Ownership enables you to buy additional shares through a process known as ‘staircasing’. The more shares you buy, the cheaper your rent becomes, and the more of your property you own. Best of all, you can do this when, and only when, you’re ready - there’s no rush!

Cheaper rent than on the open market

If you are already renting a flat in London, you’ll know that prices in the capital can be eyewatering. With Shared Ownership, you can rent your home at a lower rate than you’d get on the open market. The rent you pay is usually no more than 3% of the share owned by your housing association. You can lower the price of rent over time as you buy more shares of your home!

Check out our Rent vs Shared Ownership calculator to see if Shared Ownership is cheaper per month than renting in your area.

Want to enjoy the benefits of Shared Ownership? With Notting Hill Genesis, you can take your pick from some of the most stunning Shared Ownership apartments. With developments located all over London, start your property search today.

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